answers to questions submitted by...

Appendix A to the Notes of the Adjourned 43rd Annual General Meeting

ANSWERS TO QUESTIONS SUBMITTED BY SHAREHOLDERS

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No. Question / Suggestion Answer

1. The new Bursa website is very badly designed. Not sure which smart alec decided to change it. The old one was a lot better - I can easily see the chart for KLCI and FKLI on the main page and it was easy for me to select a stock at the stock drop down box to see its current price. Also, the previous line charts were a lot better than the current chart. Consider changing it back.

Firstly, thank you for your feedback on the corporate website. It was time for the website to be revamped to deliver functional improvements to the various user groups served. The new website carries a modern contemporary design and a fresh interface. Other than industry-standard data safety and protection, mobile and multi-screen compatibility, it has enhanced global search capabilities, and interactive tools – all of which were aimed to improve user experience. We engaged various stakeholders during the development of the website. We do apologise for the difficulty you might have had in finding the indices and derivatives charts. We wish to highlight that these charts are still accessible from the homepage by clicking on the names (as illustrated below). Details for each index can be found by clicking on “View Details”.

We have maintained most of the functionality or information in the old equities price chart. The new interactive price chart now has tools that can help visitors perform analyses or visualise the historical data as desired. We sincerely thank you for the feedback and suggestions. Comments from our stakeholders will help us make improvements on the user experience of our corporate website. We are reviewing each feedback we receive and will consider the specific suggestions (such as an AGM calendar) for implementation.



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2. What’s the prospect of Bursa in the coming one year?

For 2020, it is becoming clearer that the current COVID-19 outbreak will have significant impact on GDP and subsequently PLCs’ earnings outlooks. The impact however cannot be reasonable estimated at this juncture. The uncertainty, however, has resulted in a volatile and uncertain market environment so far this year, which in turn translated into higher trading activities in both the Securities and Derivatives Markets. Derivatives Market registered several new highs in trading volume and open interest in 1Q 2020. The trading revenue outlook for the rest of the year really depends on the performance of global economies, volatility in the markets, and how quickly our businesses can recover. At the same time, our non-trading revenue is fairly stable. As Bursa navigates this uncertain and challenging environment, we will adjust our approach accordingly, where necessary. We remain confident in our near-to mid-term strategy to enhance market attractiveness and vibrancy through initiatives that we have in place that includes efforts to broaden our product and service offerings, as well as initiatives to strengthen our ecosystem.

3. Will dividend payment be affected?

We do not foresee our dividend payment will be affected. Bursa has continuously been paying dividends of more than 90% of PATAMI. Our dividend policy provides for payment of not less than 75% of PATAMI, subject to our level of cash and cash equivalents, return on equity, retained earnings and our projected levels of capex and other investment plans, including the development of the Malaysian capital market. We will continuously assess our performance and cash position in respect of capex and future investment requirements, as we have done so in the past, in determining the dividend to be declared in future.



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4. The ETF category like Gold ETF and index ETF only allowed sophisticated investor to investor, why? Where as we think retailer shall be given a chance to participate in this low entry plus easy to understand investment. Would bursa consider to allow normal retailers to invest in ETF, since Bursa encourage retailer to invest small but diversify? ETF is non other, another type of index fund which provide cheap entry to a basket of investment.

Currently all ETFs are available for trading by all investors. However, only exception are the Leverage and Inverse (L&I) ETFs where an investor need to fulfil any one of the four eligibility criteria which are:- (i) the Client is a Sophisticated Investors; OR (ii) the Client has a Margin Account; OR (iii) the Client has executed at least 5 transactions in exchange traded

derivatives, or structured warrants within the preceding 12 months; OR

(iv) the Client has utilized a performance simulator which simulates trading in L&I ETFs units and undergone an e-learning tutorial developed by the Exchange for trading in L&I ETFs units

5. Why the ETF fund like gold ETF and KLCI leverage and inverse ETF only allow sophisticated investor to invest? It should be opened to all retailers considering retailers can invest in call warrant or put warrant which I suppose is higher risk.

Currently all ETFs are available for trading by all investors. However, only exception are the Leverage and Inverse (L&I) ETFs where an investor need to fulfil any one of the four eligibility criteria which are:- (i) the Client is a Sophisticated Investors; OR (ii) the Client has a Margin Account; OR (iii) the Client has executed at least 5 transactions in exchange traded


(iv) the Client has utilized a performance simulator which simulates trading in L&I ETFs units and undergone an e-learning tutorial developed by the Exchange for trading in L&I ETFs units

On Gold ETF, it requires cash upfront on purchases due to Shariah principal but it is open for trading for all investors.

6. While my question is not answer in the meeting, I hope the Board will look into the ETF market and allow retailer to invest, which suit the retailer to own a more diversify investment and also a cheap entry to own a market. And if possible, please reply personally to my email.

Currently all ETFs are available for trading by all investors. However, only exception are the Leverage and Inverse (L&I) ETFs where and investor need to fulfil any one of the four eligibility criteria which are:- (i) the Client is a Sophisticated Investors; OR (ii) the Client has a Margin Account; OR (iii) the Client has executed at least 5 transactions in exchange traded


(iv) the Client has utilized a performance simulator which simulates trading in L&I ETFs units and undergone an e-learning tutorial developed by the Exchange for trading in L&I ETFs units.



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7. When can we expect the next dividend payment?

Bursa declares dividend half yearly. Any dividend to be declared will be announced in July.

8. It is getting easy to invest in US stock, anything was done to attract more investor to Bursa?

Bursa Malaysia continues with its effort to promote the marketplace through various programs and channels. We facilitate corporate access and sectorial initiatives via seminars and webinars to enable more timely content to investors, allowing them to take advantage of compelling valuations, yield plays as well as defensive investment opportunities. During the MCO period, we have also engaged with both foreign and local fund managers through the hosting of webinars organised in collaboration with our broker partners. These have provided the investors on latest updates on listed companies as well as market outlook.

9. If the Covid-19 is prolonged, how much will it affect your top and bottom line?

It is difficult to assess the impact of the pandemic in terms of magnitude towards our overall economy, capital market and company performance at this juncture as it is becoming a global crisis. However, thus far, we have seen increased trading revenue in Q1 2020 at the back of higher volatility and market uncertainty. Bursa will continue to monitor the situation and adjust our activities accordingly to manage our financial performance and developmental needs. If we look at the market performance in 1Q20, both Securities and Derivatives Markets are doing better compared to 1Q last year. The uncertainty in the market is creating greater volatility and trades in the market. Given the uncertainty, we are not able to ascertain whether this is sustainable and therefore will not be able to reasonably estimate the impact to top and bottom line.

10. How is the financial performance for this year? Is it affected by Covid-19?

Bursa’s trading revenue in Q1 2020 has grown amidst the exceptionally volatile and uncertain market environment. We saw higher trading activities in both the Securities and Derivatives Markets. The trading revenue outlook for the rest of the year is really dependent on performance of global economies, volatility in the markets, and how quickly our businesses can recover. Our non-trading revenue remains fairly stable, aside from the impact of the listing fee rebate announced for selected PLCs.



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As Bursa navigates this uncertain and challenging environment, we will adjust our approach accordingly, where necessary.

No. Question/ Suggestion Answer

11. Kindly elaborate the drop and rather flat revenue in recent years. Less activity and interest to the overall markets? Supply demand?

In this past decade, Bursa’s operating revenue has grown each year (with the exception of 2016 and 2019).

Performance in recent years was largely driven by uncertainty in the global economic landscape. Various factors impacting the market performance, both global and domestic, include:

• Prolonged uncertainties over trade negotiation between US-China;

• Concerns over the outcome of the United Kingdom’s exit from the European Union;

• Rising geopolitical tensions in the Middle East;

• Political/domestic policy changes in Malaysia;

• Rebalancing of the MSCI Emerging Markets Index, which reduced Malaysia’s weightage in the index; and

• Weak corporate earnings for some our PLCs that dampened investor sentiment and affected the trades.

We will continue identifying and executing the appropriate initiatives to help ensure sustainable returns and continued competitiveness of our market. 2019 was a challenging year for Bursa Malaysia where we saw our market performance impacted by both global and domestic developments. On the back of lingering uncertainties, market activity remained subdued as investors sat on the sidelines, marked by major macroeconomic headwinds.



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12. Profits has also been decreasing or flat. Higher CAPEX for better future? Higher OPEX due to business environment?

A high proportion of Bursa Malaysia’s costs are fixed. Given the current situation, Bursa reviews its activities and has undertaken certain cost control/cutting measures. Certain events and marketing and development activities will not be undertaken this year and will be deferred. We are also managing our manpower numbers. We will incur higher CAPEX in the next few years for the replacement of post-trade systems (equity clearing, derivatives clearing and depository system) to ensure integrity and robustness of our solution in accordance with the conditions of licences granted to Bursa Malaysia.

13. Can Bursa share insight view on when the Malaysian economy will be recovered?

Due to the unprecedented nature and magnitude of the pandemic, analysts are not able to reasonably assess and estimate the actual impact of the pandemic at this juncture. The wide range of GDP forecasts issued by organisations like BNM, IMF & World Bank further confirmed it is difficult to have a solid view on economic recovery at this juncture. Nevertheless, the nation’s economic growth challenges are expected to be mitigated by the Government intervention across various industries and through the relief/stimulus packages that the government and relevant bodies had put in place.

14. Will a company need to announce if can’t meet its deadline to submit quarterly result?

Since a blanket extension has been given to all the affected PLCs to submit their quarterly reports until 30 June 2020, no individual announcement by such PLCs is required.

15. Where in the Economic Stimulus Package caters for commissioned dealers representative?

There is none that is catered just for commissioned dealers as a group. Depending on the income level, if the dealers fall under the specific income level they are entitled to receive the assistance. As the industry is under essential services, dealers are still able to perform their duties and employed.

16. What is Bursa's plan with a view to converting banks Fixed Deposits into Stocks & Shares?

There are currently no plans to directly convert banks fixed deposits (“FD”) into shares. However, there are initiatives carried out that can promote investment alternatives to FD for the public: 1. Fixed Deposits currently yield around 2-3% depending on the tenure

and is expected to go lower in tandem with declining OPR. Hence, there are plans to have fixed income products to be traded on the Exchange where investors can have alternative to FD. The listed fixed income products can provide income yield and capital gain (if interest rate continue to decline)



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2. Investors who placed in FD are mainly investors who have lesser knowledge on investments or very risk adverse. As such, in our product strategy we take this into consideration and would be marketing low risk products such as ETFs to these group as ETFs are low cost, basket of investment (diversified risk) and with potential capital gain.

17. How will this pandemic Covid-19 affect Bursa Malaysia?

Bursa Malaysia continues to operate during this period to ensure investors have continuous access to their investments. For risk management, the Bursa team has been split into three i.e. working from office, working from home and working from our Disaster Recovery Centre. Bursa’s trading revenue in Q1 2020 has grown amidst the exceptionally volatile and uncertain market environment. We saw higher trading activities in both the Securities and Derivatives Markets. Nonetheless, the trend may not sustain throughout the entire year. We are wary that prior projected earnings growth by some PLCs might be very challenging especially in the first half of the year, due to the impact of curbing the pandemic. This could affect trading interest in the market in the latter part of the year. The management is monitoring the situation very closely and will remain agile to ensure there is no business disruption. We are well-equipped to ensure the market is accessible, fair, and orderly for our market participants. The necessary SOPs and business continuity plans have been implemented the last few months and our planned initiatives are progressing as planned.

18. What are the measures that the Board has taken to address the above if it affected the company?

A. From the health/safety and business continuity perspectives, we

have implemented several precautionary measures to manage the

impact of Covid-19. These measures include:

i) Encouraging social distancing; ii) Facilitating good hygiene practices; and iii) Implementing split office operations as per our risk management

and business continuity plans (main office, disaster recovery centre & working from home).

While these measures helped safeguard our employees, it is also very crucial to ensure that our marketplace continues to operate in a fair and orderly manner, and our services are accessible, reliable and resilient at all times.



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B. From a market management or market facilitation perspective, we have undertaken several steps to mitigate potential risks arising from heightened volatility and global uncertainties as a result of the Covid-19 pandemic. We began the temporary suspension of Intraday Short Selling (IDSS) and Regulated Short Selling (RSS), as well as intraday short selling by Proprietary Day Traders from 24 March 2020. We have extended the suspension till 30 June 2020. This short-term measure, coupled with our slew of other market management measures that have always been in place, collectively help to mitigate any excessive speculative activities in the marketplace and promote stability and confidence in our market.

All these while, the Exchange continues to operate within normal trading hours to ensure market participants and investors have access services, assets and funds without any disruption.

In addition, Bursa Malaysia also introduced a number of relief measures to alleviate the impact of Covid-19 on capital market players. Among others: i) Bursa Malaysia has facilitated members to remotely access

the Exchange’s core systems, enabling brokers to continue to

operate and provide services to investors.

ii) The Exchange has also provided operational relief such as

deferment of submission of selected physical documents

during the Movement Control Order period.

iii) The Exchange enabled reactivation of dormant and inactive

CDS account via the Bursa Anywhere mobile app.

C. From a company performance perspective, the Board and

management will continue to monitor the company’s performance

against our commitments, which include revenue and cost targets,

as well as high impact market development and organisational

development priorities. We acknowledge the importance to

safeguard the shareholders’ interest in this environment.

As per our disclosure obligation as a PLC, rest assured we will make immediate announcements if there is any material information that needs to be communicated to shareholders.



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19. Will the company able to pay more dividend for the coming year.

Bursa has continuously been paying dividends of more than 90% of PATAMI. Our dividend policy provides for payment of not less than 75% of PATAMI, subject to our level of cash and cash equivalents, return on equity, retained earnings and our projected levels of capex and other investment plans, including the development of the Malaysian capital market. We will continuously assess our performance and cash position in respect of capex and future investment requirements, as we have done so in the past, in determining the dividend to be declared in future.

20. Good afternoon everyone! Thank you for setting up this live streaming event. Looking forward to my very first "Virtual AGM"!

Thank you for your participation at the 43rd AGM of Bursa Malaysia on 29 April 2020. This was our first fully virtual AGM conducted during the Movement Control Order period. Hope you have had a good experience with Bursa Malaysia.

21. Cannot attend the AGM because of MCO. Would like to request for voucher.

Thank you for your participation at the 43rd AGM of Bursa Malaysia on 29 April 2020. You will receive via email from our Share Registrar (Tricor Investor & Issuing House Services Sdn Bhd), a Boost Credit of RM40 for the meeting refreshment (before end of this week). Whilst it is valid for 3 months from 18 May 2020, we urge that you redeem this reward into your Boost e-wallet at the earliest possible upon receipt of the said email. Please follow the steps given. If you are a new user, you are required to download the Boost App from App Store first, and complete the registration before you can sign in.

22. Would like to take this opportunity to thank the Board and Tricor for making this meeting possible. Bursa for the first company to come up with the idea of e vouchers. Hope all companies would implement this policy. Stay safe everyone.

Refer to answer for Q21.

23. As a senior, a first timer on the RPV and also not an IT savvy, it took sometime and agony to get it hooks up, appreciate to have the e-voucher sent to us, thank you. We have to follow the traditional

Refer to answer for Q21. Although giving door gift is not practised by Bursa Malaysia, we look forward to meeting you at the next AGM.



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procedure and should NOT be the new NORMAL and hope next year we will able to meet up, have some refreshment and door gift too.


24. During Q&A session, the questions & answers were not synchronized. I hope Bursa look into it to improve this matter, if any remote participation in future.

As this is Bursa Malaysia’s first fully virtual Annual General Meeting during the Movement Control Order period, we truly value your feedback for improvement moving forward.

25. Is there any door gift? We do not practise this, as the purpose of an AGM is to have communication between the Board and the shareholders.

26. Wondering whether Bursa Malaysia will continue to hold the AGM virtually in the next few years?

Bursa Malaysia will continue to promote remote participation and voting (RPV). Bursa Malaysia will conduct a physical meeting and at the same time make available the RPV facilities to shareholders.

27. In relation to the Bursa Malaysia mobile apps which launched last year, we are wondering whether the public can invest on the stock market through the Bursa Malaysia mobile apps without involved any investment bank? What’s the purpose of the Bursa Malaysia mobile app being created in the first place?

Bursa Anywhere enables depositors to carry out CDS account related activities such as checking consolidated balances, carrying out transfers, reactivation of accounts, updating personal information of CDS accounts. As to trading, Brokers are providing online trading app.

28. Due to Covid-19, how will Bursa advice on other listed companies' AGM such as ensure social distancing when shareholders physically present during a company AGM, after MCO?

The Securities Commission Malaysia had on 18 April 2020, issued the Guidance and FAQs on the Conduct of General Meetings for Listed Issuers (“the Guidance”) during and after the MCO period. During the MCO period, listed issuers should only conduct fully virtual meetings with not more than 8 people present at the broadcast venue and ensure social distancing and precautionary measures are practised. The Guidance also encourages listed issuers to continue leveraging technology to conduct their general meetings and communication with shareholders beyond the MCO period to facilitate greater shareholder participation, including those from remote locations. The Guidance is still



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applicable to guide listed issuers on the conduct of hybrid general meetings after the MCO (where safe distancing requirements remain). The Guidance and FAQs on the Conduct of General Meetings for Listed Issuers is available at https://www.sc.com.my/regulation/corporate-governance.


29. I believe virtual meeting will be the way to go moving forward. Wondering if the process could be simplified in future. As at now, shareholder has to register a user account, then register to participate in RPV, wait for verification email before login 10 minutes before the AGM. Some proposed changes:- 1. Once the shareholders register

as shareholders register as user, he can just login to participate during the AGM. (limited space here, another shortcoming).

2. Verification should be earlier. I just received verification yesterday about 9 pm.

3. Event should be opened earlier. I login at 2.30 pm, event was not on the screen. I have logged out and login again to have the screen appeared on the screen. It doesn’t come out automatically

We truly value your feedback and will communicate the same to the Remote Participation and Voting (RPV) service provider for consideration. Further to the above, we wish to provide some background information as to the system requirements for a shareholders meeting and voting. 1. TIIH platform provides services to clients, who may be

shareholders of other listed issuers apart from Bursa Malaysia. Hence, the first-time registration is to be a user of TIIH platform. This can be done at any time if one wishes to be a user.

2. The verification of one’s entitlement to attend the 43rd

AGM of Bursa Malaysia was based on Record of Depositors as at 24 March 2020. In this respect, you as a shareholder may opt to attend the meeting personally or alternatively appoint a proxy to attend the meeting on your behalf.

3. Based on the cut-off time for the submission of proxy

form at 3.00 pm. on 28 April 2020 (i.e. 24 hours before the appointed time for the adjourned 43rd AGM), the Share Registrar is required to conduct another round of verification after 3.00 p.m., and thereafter prepare the final list of shareholders for attendance. This is explained the reason why you only received the verification email at about 9.00 p.m. on 28 April 2020.

We take note of the feedback to allow login 30 minutes before the commencement of meeting, instead of 20 minutes, as currently practised.

https://www.sc.com.my/regulation/corporate-governance



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30. In view of Covid-19 impact to economy efficiencies in the nation and worldwide. Can Datuk kindly advise the top 3 initiatives Bursa will take in FY2020 to optimize both fixed and variable costs?

A high proportion of Bursa Malaysia’s costs are fixed. Given the current situation, Bursa reviews its activities and has undertaken certain cost control/cutting measures. Certain events and marketing and development activities will not be undertaken this year and will be deferred. We are also managing our manpower numbers. Nevertheless, for 2020, the 3 key initiatives being undertaken by the exchange to optimise fixed and variable costs are:- 1. Bursa is looking at modernising our systems to improve

cost efficiencies over the longer term.

2. We are also undertaking various business process improvement efforts – including internal processes, and simplifying selected processes with external stakeholders.

3. Postponing non-critical initiatives. Our priorities however remain intact that is to remain committed to develop the market.

31. The directors’ fees should be reduced during this difficult time.

In line with the best corporate governance practices, the Board has in place policies and procedures to determine the remuneration of its Directors, which takes into account various factors including the complexities and performance of the Company. The Board Remuneration Policy is reviewed on an annual basis. This review is conducted internally by the Board Remuneration Committee and facilitated by the Company Secretaries. However, to ensure its independence and objectivity, an external consultant is engaged once in every three (3) years to conduct a review of the Board Remuneration Policy. As such, in 2020, an external consultant will be engaged by the Board to conduct the review of the Board Remuneration Policy. The Directors’ fees in respect of the financial year 2020 will be tabled for the shareholders’ approval at the next AGM in 2021.



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32. I have a lot of fellow shareholders of my age group who does not have means & link to this virtual AGM to vote, how is the board going to address this problem of your minority shareholders?

In 2019, Bursa had implemented the hybrid AGM where shareholders were given the option to attend physically or participate via remote participation & voting facilities. This year, we conducted a fully virtual AGM for the first time, in view of the unprecedented circumstances of COVID-19 with the enforcement of the Movement Control Order (MCO) by the Government.

Bursa will continue to engage its shareholders via hybrid AGM, to allow the Company to cater to the different needs of its shareholders. We hope this would facilitate greater shareholders’ participation and enhance the proceedings of our meeting.

33. Why for nominee account, we are now expected to register online? Where else our broker has already submitted the form for our registration? Why can't registrar just register, and we just login on registration day?

For the beneficiary who holds shares of the Company under a Nominee Company’s Central Depository System (CDS) account, and who wishes to use the Remote Participation and Voting (RPV) facilities to participate and vote remotely at the Adjourned 43rd AGM, he/she can request his/her Nominee Company to appoint him/her as a proxy. In this respect, he/she must contact officer of Tricor Investor & Issuing House Services Sdn Bhd (Tricor) and will be required to provide the following documents to Tricor no later than 3.00 p.m. on 28 April 2020: 1. Duly executed proxy form by the Nominee Company; 2. Copy of the proxy holder’s MyKad (front and back); and 3. Proxy holder’s e-mail address and hand-phone number. Upon receipt of such documents, Tricor will respond to your remote participation request. The cut-off time was 28 April 2020 at 3.00 pm. (i.e. 24 hours before the appointed time for the adjourned 43rd AGM) as provided in the Administrative Guide for Shareholders which were issued by the Company on 31 March 2020 and 24 April 2020. As the Poll Administrator (Tricor Investor & Issuing House Services Sdn Bhd) is responsible for verifying the identity of shareholders based on the General Meeting Record of Depositors as at 24 March 2020, the registration protocol for the RPV must be strictly adhered to, before one can attend and vote at the 43rd AGM remotely. Compliance with the said process is vital and the poll results are subject to validation by the Scrutineers (Deloitte Risk Advisory Sdn Bhd).



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34. Why nominee account holders are not allowed to attend meetings, if there are miscommunications between our brokers and registrar resulting to our name are not registered? I was registered for AGM but EGM was left out. Can Nominee allowed to attend, if no questions are allowed?

The same requirement will apply, as the beneficiary who holds shares of the Company under a Nominee Company’s account should be appointed as proxy by the Nominee Company to attend an AGM or EGM. One is only entitled to attend an AGM/EGM as a shareholder/proxy, and at the same time he/she can speak or ask question at that meeting.

35. Why Bursa directors (including non-executives) and staff are not taking pay cut, with lower profits and dividends?

The Board Remuneration Policy and Staff Remuneration Framework are reviewed on a regular basis. The Board will also review the same if the circumstances require it.

36. How many percentage of shareholders today attending this virtual AGM now?

About 600 members/proxies attended the 43rd AGM held on 29 April 2020. They represented about 66.6% of the total issued shares of the Company.

37. The online AGM is lagging, the question & answers are not heard properly since the breaking of line, very difficult indeed. Please address this issue asap.

As this is Bursa Malaysia’s first fully virtual AGM during the Movement Control Order period, we truly value your feedback for improvement moving forward.

38. What were the governance issues that Datuk Shireen was guilty of? Impact or any damages to bursa for this governance issue? Would there be further investigation and actions taken against Shireen? Going forward, what would be put in place to avoid the similar incident?

An announcement was made on 29 April 2020 via Bursa LINK in relation to the various articles that have been published in the media recently on the governance issues at Bursa Malaysia Berhad (“Bursa Malaysia”) and its Board of Directors (“Board”). In this respect, the Board of Bursa Malaysia wishes to clarify that the reputation and integrity of Bursa Malaysia as the market operator of the stock exchange has always been its utmost priority. Hence, the Board of Bursa Malaysia is always mindful to ensure the Group governance structure remains effective and efficient in the best interest of the Malaysian capital market and our stakeholders. Towards this end, Bursa Malaysia has always engaged with its relevant stakeholders, including the Securities Commission Malaysia, to provide feedback or updates on governance practices and other relevant matters relating to the capital market and will continue to do so on a regular



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basis. The Board would like to re-affirm our common objectives with our stakeholders in ensuring the orderly functioning, good governance and stability of Malaysia’s capital markets particularly at a time of unprecedented pressures to markets, both in Malaysia and globally.


39. On the recently news from SC related to the chairman position, what is the chairman’s comment?


40. On Governance, can the Chairman or CEO or an independent director clarify or confirm the governance concern, as provided by the Securities Commission in the media?


41. We are unable see visibly the MSWG response on the live screen.

The contents of Bursa’s response is extracted below for your easy reference: The reputation and integrity of Bursa Malaysia as the market operator of the stock exchange has always been the utmost priority of the Board of Directors of Bursa Malaysia (“Board”). Hence, the Board is always mindful to ensure the Group governance structure remains effective and efficient in the best interest of the Malaysian capital market and our stakeholders. Towards this end, Bursa Malaysia has always engaged with its relevant stakeholders, including the Securities Commission Malaysia, to provide feedback or updates on governance practices and other relevant matters relating to the capital market and will continue to do so on a regular basis. The Board would like to re-affirm our common objectives with our stakeholders in ensuring the orderly functioning, good governance and stability of Malaysia’s capital markets particularly at a time of unprecedented pressures to markets, both in Malaysia and globally.



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42. Governance concern – Can you clarify the cessation of employment of the three key officers, viz. Chief Commercial Officer, Chief Operating Officer, Chief Regulatory Officer, among others? The three officers in particular have served 28, 19 and 21 years with Bursa Malaysia, respectively.

Bursa undertook a re-organisation exercise in order to flatten the organisation structure and to create a more optimal structure. The 3 key officers were on fixed term contracts. In this respect, Bursa Malaysia decided not to renew their fixed term contracts as approved by the Board of Directors (“Board”). With regards to the non-renewal of their fixed term contracts, the Board of Bursa Malaysia had considered that based on relevant factors and consideration, this decision was in the best interest of Bursa Malaysia and at the same time would not have any material impact on Bursa Malaysia group, the capital market and its participants. In addition, the Board of Bursa Malaysia was of the view that this decision would not affect the sufficiency of Bursa Malaysia’s resources, particularly at the Management team level.

43. Based on the market situation, we saw a negative on WTI. Will our system can allow a negative number on CPO as an example?

We do not see CPO going negative due to ease of halting production whenever there is a lack of storage facility. Given recent volatility with WTI, we are making an assessment across our Technology, Processes and Procedures to manage a negative price for CPO.

44. The live transmission is erratic and unstable to enable participants to hear clearly the proceedings. The live transmission also did not provide active interaction with the Chair and Board members.

As this is Bursa Malaysia’s first fully virtual Annual General Meeting during the Movement Control Order period, we truly value your feedback for improvement moving forward.

45. Can the Bursa Anywhere include web access?

In our assessment, mobile app offers convenience and ease of use. We will keep in view the need for web version.

46. Can Bursa Malaysia explore the registration of participation at general meetings through Bursa Anywhere?

Thank you for the suggestion, we will explore this requirement and its feasibility.

47. Consider allowing the opening of trading account direct through Bursa Malaysia.

Bursa Depository is currently working with brokers to enable seamless electronic account opening for the investors.



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48. Can you please brief on how to vote?

The online remote voting procedures are as set out in the Administrative Guide which was issued on 2 March 2020 [Item 22(e)]. The same was also repeated in Item 10(e) of the Notification to Shareholders on the Adjournment of the 43rd AGM of Bursa Malaysia Berhad dated 31 March 2020 and its Addendum dated 24 April 2020. We have received some feedback from our shareholders on the problems they had encountered during the voting process via the Remote Participation and Voting (“RPV”) at TIIH Online. In this respect, we have communicated to the RPV service provider, the possible hindrance and complexity faced by some shareholders. They will look into this for improvement to make the system more user-friendly. We sincerely appreciate all the feedback we have received from our shareholders, for continuous improvement.

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